Ann: Buena Vista Technical Feasibility Refresh Completed, page-32

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Freddieflintoff

3,988 Posts.

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22/08/23

07:23

Post #: 69466771
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Originally posted by dc1234: ↑

Thanks for the post.

Normally I wouldn't have replied because its not a big thing. What is important id if they are going in the right path and can prove its economically viable and get funding - that is important, history may be forgotten then

But as you replied to my post and mentioned its only 2 or 3 years, it looked like I may have provided wrong information, hence I am clarifying.

If you look at today's announcement, it talks about -

"As announced recently, the Company has embarked on a technical refresh of the project’s 2011 Feasibility Study" -

which is actually related to (also in today's announcement) when initial Feasibility Study was done by RHM in 2011

"ASX:RHM, “Richmond Delivers Positive Feasibility Study on the Buena Vista Iron Project”, 9 May, 2011"

ASX RHM - Richmond Mining was then working on it.

Then in another paragraph it says (again from today's announcement)

"Samuel Engineering of Denver Colorado, USA, undertook the key design work under the Company’s supervision. Samuel have a long association with the project, having provided the bulk of the engineering design work for the original feasibility study"

Expand

I think the reason for the refresh is not just to get more up to date inputs and variables into the study but more importantly if I was a potential investor and Magnum knocked on my door , the first thing I would say is “ your study is out of date , refresh or update it , then I will consider it “

MGU Price at posting: 3.9¢ Sentiment: Buy Disclosure: Held
14 Upvote

0 Great analysis

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